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Investment Highlights

  • 67 residential units within a condo project
  • Stable occupancy and consistent rental income
  • Off strategy Turnkey investment with immediate cash flow
  • Strong in-place NOI of $712,172 (based on Seller provided info)
  • Potential long-term exit via condo sell
  • Attractive 8.3% cap rate at asking price (based on recent appraisal)

Executive Summary

High-Yield 67-Unit Condo Portfolio | Strong In-Place Income | 8.3% Cap Rate Rare opportunity to acquire a 67-unit residential condo portfolio offering immediate scale, stable cash flow, and an attractive 8.3% cap rate at current operations. This asset delivers consistent in-place income supported by a diversified tenant base, making it well-suited for investors seeking reliable yield in today’s market. The property benefits from solid occupancy and established rental performance, with minimal reliance on pro forma assumptions. Investors can step into a stabilized asset with predictable revenue from day one. The condo structure provides additional strategic flexibility, including the potential for future unit-by-unit disposition (subject to market conditions and HOA guidelines), offering a compelling long-term value enhancement opportunity. This offering is ideal for yield-focused buyers, 1031 exchange investors, or groups seeking a scaled residential investment with both current income and optional upside.

Property Facts

Price $8,645,000
Price Per Unit $480,278
Sale Type Investment
Cap Rate 8.30%
No. Units 18
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low-Rise
Building Class C
Lot Size 0.02 AC
Building Size 5,309 SF
No. Stories 3
Year Built 1972
Zoning PLND UNIT DEV

Amenities

Unit Amenities

  • Air Conditioning
  • Heating
  • Kitchen
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower
  • Vinyl Flooring

Site Amenities

  • 24 Hour Access

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 18 - 805
Fairly walkable
40/100
Exceptionally drivable
90/100
Fairly bikeable
40/100

Property Taxes

Property Taxes

Parcel Number
33-79-17-4-2-703600
Land Assessment
$0
Improvements Assessment
$4,091
Total Assessment
$4,091
  • Listing ID: 40633128

  • Date on Market: 5/22/2026

  • Last Updated:

  • Address: 2401 Grandview Pl, Casper, WY 82604

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